NYMEX light sweet crude futures for May delivery settled on Wednesday at $52.77/bbl, down $1.21 in response to a much higher-than-forecast build in stocks. The weekly supply statistics from the Energy Information Administration (EIA) revealed crude inventories rising to their highest level since 1993, triggering a round of selling. Downside momentum drove May crude down to $51.86/bbl before rebounding after market speculators engaged in bargain hunting. Crude prices have also been tracking the stock market and equities rallied but eventually ran out of steam.